Final August, SoundCloud cut its workforce by 20 percent, citing “the difficult financial local weather” for the layoffs. That is been a common refrain amongst firms decreasing workers lately — with firms like Google, Meta, Amazon and extra framing layoffs as restructuring or price slicing measures. Now, SoundCloud says it will likely be slicing workers by a further 8 %, telling workers that the discount is a “difficult however important resolution to make sure the well being of our enterprise and get SoundCloud to profitability this yr.”
That purpose was baked into the corporate’s final spherical of layoffs too, with the 2022 cuts being positioned as placing SoundCloud on “a path to sustained profitability.” This new “headcount discount” appears to be the subsequent step in that plan, with sources telling Billboard that the corporate hopes to be worthwhile by This fall. SoundCloud management has additionally reportedly stated that it is courting new buyers.
Though SoundCloud’s layoffs comply with the identical grotesque sample we have seen throughout totally different tech manufacturers just lately, the corporate has really been slowly decreasing workers for a while. Along with final yr’s cuts, the corporate slashed its workforce by 40 % again in 2017.
Take a look at Engadget’s have a look at the biggest tech layoffs of 2023 for extra particulars.
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